The smallcap stock, Elcid Investments, has seen an unprecedented increase of 66,92,535% in a single trading session, making it the most expensive stock in India. This monumental rise, driven by a special call auction, has propelled the company to surpass MRF, the previous titleholder. With strong ties to Asian Paints and limited availability of shares, Elcid's high book value was a major factor in its surge. Market analysts are amazed by this development, citing the special call auction as a crucial mechanism in determining the true market value of a stock.
Elcid Investments: A Meteoric Rise to India's Most Expensive Stock
Background
Elcid Investments is a smallcap stock listed on the Bombay Stock Exchange (BSE). Prior to its recent surge, it hovered around a modest price range of 20-30 rupees per share. However, on July 12, 2023, Elcid's stock price witnessed an unprecedented increase of 66,92,535%. This astronomical surge propelled it to surpass MRF, the previous titleholder of the most expensive stock in India.
Special Call Auction
The surge was triggered by a special call auction conducted by the BSE. This auction is typically held for companies that have experienced significant price movements or are undergoing restructuring. In Elcid's case, the special call auction was held to determine a fair price for the stock, given its limited availability and high book value.
Key Factors Driving the Surge
Analysts' Reactions
Market analysts were stunned by Elcid's meteoric rise. They attributed the surge to a combination of factors, including the special call auction, the company's strong fundamentals, and investor sentiment. However, they also cautioned investors to exercise caution, as such extreme price movements can be volatile and unpredictable.
FAQs
1. Why did Elcid Investments' stock price increase so dramatically? A: The surge was primarily driven by a special call auction conducted by the BSE, which allowed investors to determine the true market value of the stock.
2. Is Elcid Investments a fundamentally sound company? A: While Elcid Investments has strong ties to Asian Paints and a high book value, it is essential to note that its financials and business prospects should be carefully reviewed before making any investment decisions.
3. Can Elcid Investments sustain its current price levels? A: It is difficult to predict the future performance of any stock, especially after such an extreme price movement. Investors should exercise caution and conduct thorough research before investing in Elcid Investments.
4. What is a special call auction? A: A special call auction is typically held for companies that have experienced significant price movements or are undergoing restructuring. It allows investors to determine a fair price for the stock based on supply and demand.
5. What are the risks associated with investing in Elcid Investments? A: As with any investment, there are risks involved in investing in Elcid Investments. Investors should be aware of the stock's volatility and consider their risk tolerance before making any investment decisions.
In a major move that aligns with the government's "Viksit Bharat" vision, Google has announced a $15 billion investment to set up its first AI hub in India located in Visakhapatnam, Andhra Pradesh. The tech giant has partnered with the Adani Group to build a cutting-edge campus that combines advanced AI infrastructure, renewable energy solutions, and an expanded fibre-optic network. This investment marks Google's largest AI hub outside the United States and is expected to drive growth and innovation in the country's digital economy. Prime Minister Narendra Modi has hailed this announcement as a powerful step towards democratizing technology and securing India's place as a global technology leader.
EPFO introduces new rules for partial withdrawals, allowing members to withdraw up to 75% of their provident fund corpus with a minimum balance of 25%. The move aims to provide financial support for immediate needs without sacrificing long-term retirement savings. The rules also include increased time for availing premature settlements, simplification of withdrawal process, and collaboration with India Post for doorstep services. These measures are expected to improve financial flexibility while ensuring sustainability of retirement savings. Category: Business Title: EPFO Eases Rules for Provident Fund Withdrawals, Including 75% Partial Withdrawal and Simplified Process
Google CEO Sundar Pichai and Indian Prime Minister Narendra Modi discuss the tech company's investment in India's digital economy, including plans for a new AI hub in Visakhapatnam. This hub will provide access to cutting-edge AI technology and support industries such as healthcare, education, agriculture, and logistics. It will also connect with Google's global network of AI centers in 12 countries.
During a visit to Chennai, Union Minister Nitin Gadkari announced plans for India to become a leader in the production of alternative and biofuels. He also highlighted the country's growth in the automobile industry, job creation, and improved road infrastructure. Plans for several new highway projects in Puducherry were also announced, showcasing progress and development in the region.
Stocks were headed for a tough day on Tuesday before Fed Chair Jerome Powell's comments turned the tide. After falling about 1%, major indexes rallied in the afternoon when Powell hinted at the possibility of future rate cuts. Investors welcomed the news with relief as it stopped the downward trend and prevented what would have been the second down day in three sessions.
Prime Minister Modi will visit Ayodhya on November 25 to take part in the official completion ceremony of the iconic Ram Temple, where he will be hoisting a 21-foot flag atop the temple. This coincides with the auspicious date of Ram Vivah Panchami in the Hindu calendar. The temple holds great significance not just for India, but for the world as PM Modi envisions it as a symbol of unity and harmony among all communities. The five-day ceremony will be led by scholars and Vedic priests and is expected to be a historic moment for Ayodhya as it opens its doors to global visitors.
India's retail inflation has hit an 8-year low in September at just 1.54%, largely due to a significant decline in food prices. This is a relief for consumers as the cost of living has decreased, and it is below the RBI's tolerance range of 2-6%, which is mandated to be maintained for more than three consecutive quarters. This indicates a positive trend in the Indian economy and could potentially impact RBI's monetary policy decisions.
With the seedings finalized for the BMIC 2025, the stage is set for an epic battle between eight South Korean and four Japanese teams against eight Indian squads in the highly anticipated BGMI International Cup. Representing Korea are experienced teams such as Dplus and Nongshim Redforce, while Japan's four teams will compete in India for the first time. This year's tournament will also determine two direct slots to the PMGC 2025, building up excitement for the ultimate showdown. With TalkEsport as the top destination for esports news and coverage, this is a competition not to be missed.
The National Medical Commission (NMC) has granted permission to ESIC Medical College, Indore to start the MBBS course with 50 seats from the academic session 2025-26. This significant achievement is the result of relentless hard work, excellent coordination, and dedication of the college's institutional team. The college administration is confident that the commencement of the MBBS course will enhance access to high-quality medical education and healthcare in Indore, benefiting students, insured persons, and the general public. The college has already completed extensive preparations to meet world-class standards, including establishing new hostels, recruiting faculty, and setting up modern facilities like smart classrooms, digital libraries, and fully equipped laboratories. With this approval, the college is set to contribute to the improvement of India's unique cardiovascular risk profile.
Following the successful launch of the Windsor EV and the subsequent pre-booking offer of free fast charging for one year, JSW MG Motor has made changes to the initial terms and conditions. The original promise of providing unlimited free charging for a year has now been reduced to a cap of 1,000 units of electricity per car. This move has been met with criticism and disappointment from early adopters of the vehicle.